JinkoSolar obtains $483M credit line for solar projects

• China's Ping An Bank has provided JinkoSolar (NYSE:JKS +2%) with a 3-year, RMB3B ($483M), credit line to help finance solar projects. An initial RMB630M ($101M) loan has been taken out through the facility, and will be used to "support the development of PV solar power plant projects in Inner Mongolia, Guangdong province, and Zhejiang province."
• Jinko ended Q1 with $282M in cash, $483M in short-term bank borrowings, and $180.6M in long-term borrowings.